Schwab Charles Investment Management Inc. boosted its position in Pinnacle Entertainment Inc (NASDAQ:PNK) by 14.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 549,179 shares of the company’s stock after purchasing an additional 70,900 shares during the period. Schwab Charles Investment Management Inc. owned about 0.96% of Pinnacle Entertainment worth $11,704,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Pinnacle Entertainment in the 3rd quarter valued at about $150,000. Meeder Asset Management Inc. raised its holdings in Pinnacle Entertainment by 35.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,266 shares of the company’s stock valued at $176,000 after acquiring an additional 2,166 shares during the period. Pacad Investment Ltd. raised its holdings in Pinnacle Entertainment by 212.3% in the 2nd quarter. Pacad Investment Ltd. now owns 9,680 shares of the company’s stock valued at $191,000 after acquiring an additional 6,580 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Pinnacle Entertainment in the 3rd quarter valued at about $202,000. Finally, Macquarie Group Ltd. bought a new position in Pinnacle Entertainment in the 3rd quarter valued at about $271,000. Institutional investors and hedge funds own 92.73% of the company’s stock.
Several research firms have weighed in on PNK. Macquarie cut shares of Pinnacle Entertainment from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 19th. Susquehanna Bancshares reaffirmed a “neutral” rating on shares of Pinnacle Entertainment in a report on Tuesday, December 19th. BidaskClub raised shares of Pinnacle Entertainment from a “hold” rating to a “buy” rating in a report on Saturday, October 7th. Citigroup cut shares of Pinnacle Entertainment to a “hold” rating in a report on Tuesday, December 19th. Finally, Deutsche Bank raised their target price on shares of Pinnacle Entertainment from $20.00 to $27.00 and gave the stock a “hold” rating in a report on Wednesday, November 8th. Eight analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.57.
Pinnacle Entertainment (NASDAQ:PNK) last announced its earnings results on Tuesday, November 7th. The company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $647.40 million for the quarter, compared to the consensus estimate of $652.13 million. During the same period in the prior year, the business posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts predict that Pinnacle Entertainment Inc will post 0.81 EPS for the current fiscal year.
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About Pinnacle Entertainment
Pinnacle Entertainment, Inc is an owner, operator and developer of casinos and related hospitality and entertainment businesses. The Company operates through three segments: Midwest, South and West. The Company’s Midwest segment includes Ameristar Council Bluffs, Ameristar East Chicago, Ameristar Kansas City, Ameristar St.
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